Bruker (Nasdaq:BRKR) shares ticked up today on third-quarter financial results that beat the consensus forecast.
Shares of BRKR rose 8.4% at $66.22 apiece as the market opened today.
The Billerica, Massachusetts-based company posted profits of $88.1 million for the quarter. That amounts to 59¢ per share on sales of $638.9 million for the three months ended Sept. 30, 2022.
Bruker ended the quarter with a 1.1% bottom-line gain year-over-year on sales growth of 4.9%.
Adjusted to exclude one-time items, earnings per share totaled 66¢. That registers 11¢ ahead of expectations on Wall Street. Sales beat analyst projections as well, as they expected revenues of $608.2 million.
“Bruker had a solid first nine months of 2022, with 10.7% organic revenue growth, 160 bps non-GAAP gross margin expansion and 80 bps non-GAAP operating margin expansion year-over-year, despite continued supply chain and geopolitical challenges,” Bruker President and CEO Frank Laukien said in a news release. “Robust demand for our differentiated, high-performance products and solutions drove double-digit year-over-year organic growth in [Bruker Scientific Instruments] new order bookings in the first nine months of 2022”.
Bruker increased its organic revenue growth expectations but lowered its reported sales guidance. It expects 1.5% to 3.5% reported growth year-over-year due to foreign currency headwinds. Bruker’s adjusted EPS guidance remains unchanged at between $2.29 and $2.33.